Derayah Financial announces the compliance of its Capital Markets Division with the Global Investment Performance Standards from CFA Institute
Riyadh, Saudi Arabia 07 Sep 2021
Derayah Financial has announced its Capital Markets Division’s compliance with the Global Investment Performance Standards (GIPS®) from CFA Institute, therefore standardizing the calculation and presentation of investment performance and applying global best practices.
Commenting on the announcement, Mohammed Al-Shammasi, CEO of Derayah Financial, stated that “The adoption of the GIPS® Standards reflects the commitment of the Capital Markets Department in Derayah Financial to implement the best approaches in the investment industry. The investment performance reporting should meet the global best practices.” He also added: “This is another step towards our vision of establishing the highest level of institutional investment management, along with submitting investment performance reports to investors based on rigorous performance measurement standards. This is clearly reflected in Derayah’s efforts in uplifting the local asset management industry’s expectations towards integrity and transparency. It also reinstates Derayah’s dedication in enhancing the important levels of trust and partnerships that we look to build with our investors.”
“Derayah Financial Capital Markets Division’s’ compliance with the GIPS standards is a testimony of its commitment to adopting best practices and advancing the investment profession by implementing a global standard. They are among the few local Asset Managers in Saudi Arabia to adopt the GIPS standards,” said Ghadah Mazi, GIPS Standards Sponsor Committee Chair at CFA Society Saudi Arabia. “We applaud Derayah Financial Capital Markets Division for their efforts to put investors first, and we encourage more asset managers to follow their lead to promote fairness, transparency, and ethics in investment performance.”
Introduced in 1999, the GIPS standards are universal, voluntary standards based on the fundamental principles of full disclosure and fair representation of investment performance. The GIPS standards are administered globally by CFA Institute and as of 31 December 2020 have been adopted by more than 1,750 firms and asset owners in more than 45 markets around the world, including all or a portion of 39 of the top 40, and 89 of the top 100, asset managers globally, according to data from Cerulli Associates.
For more information on the GIPS standards, visit www.gipsstandards.org.
About Derayah Financial – Capital Markets
The Capital Markets Division in Derayah Financial manages the public and private mutual funds as well as the Discretionary Portfolio Management (DPM) mandates that invests in publicly traded equities, fixed income, money market instruments and credit.
About Derayah Financial
Derayah Financial is an independent closed joint stock investment company based in Saudi Arabia which was licensed by the Saudi Capital Market Authority in 2008. The company successfully launched a diverse and creative investment products in capital markets and alternative investments. The company also have developed an outstanding trading platform in the brokerage business. Derayah received Manger Quality Rating of MQ2 by Moody’s in 2019 and has won multiple awards for its funds’ performance achievements.
About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 170,000 CFA charterholders worldwide in 164 markets. CFA Institute has nine offices worldwide and there are 161 local societies.
For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute and on Facebook.com/CFAInstitute.